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Current home equity loan and HELOC rates
Bankrate reported a national average home equity loan interest rate of 8.46% as of September 30, 2026, based on its survey of large home equity lenders. It reported a national average HELOC rate of 7.29% as of September 30, 2026. These are separate product averages and should not be combined into a single rate. Bankrate’s home equity rate information provides the rate context.
Bankrate’s lender table listed starting APRs current as of October 1, 2026. Its methodology assumes a borrower with a credit score of at least 700, 80% combined loan-to-value (CLTV), and a five-year, $30,000 loan. The lowest displayed rates may be introductory, and eligibility and pricing depend on the lender’s criteria and the borrower’s circumstances. A separate Bankrate Monitor HELOC observation hosted by FRED was 7.29% on September 30, 2026, using a scenario of 700 FICO, $30,000, 80% loan-to-value, and an existing detached single-family primary residence. FRED’s Bankrate Monitor series identifies that scenario.
The topic title retains June 19, 2024 as fixed identity metadata; the rates above are later 2026 snapshots, not rates for that 2024 date. Rates and offers can change, so use the dates attached to benchmarks and check current lender terms before applying.
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How home equity loans and HELOCs differ
| Feature | Home equity loan | HELOC |
|---|---|---|
| How you borrow | A lump sum secured by home equity. | Revolving credit secured by home equity; you can draw more than once up to the available limit. |
| Typical rate structure | May be fixed or adjustable. | Usually adjustable, though terms vary by plan. |
| Payment path | Repayment follows the loan’s scheduled terms. | Borrowing occurs during a draw period; when it ends, further draws stop and repayment begins. Payments may rise, and some plans can require a large lump-sum payment. |
| Common fit | May suit a known, one-time expense when a lump sum and predictable payments are important. | May suit expenses paid in stages when repeated access to credit is useful. |
These are structural differences, not a recommendation for a particular borrower. The Consumer Financial Protection Bureau (CFPB) explains the features and risks of home equity loans and HELOCs.
What determines the rate you may qualify for
A published average describes a survey or defined sample, while a lender’s starting APR is an advertised entry point—not a guaranteed offer. Your pricing and eligibility can depend on your credit profile, available equity and CLTV, loan amount, repayment term, property, and lender-specific underwriting. Introductory pricing, where offered, may expire.
For context, Bankrate’s displayed lender methodology uses a borrower with at least a 700 credit score, 80% CLTV, and a five-year $30,000 loan. The separate HELOC rate observation hosted by FRED uses a 700 FICO score and 80% loan-to-value for a $30,000 line against an existing detached single-family primary residence. Neither scenario establishes the rate another borrower will receive.
What to compare before choosing an offer
- APR and fees: Compare the APR and the fees that apply, not just the advertised interest rate. Review whether a listed introductory APR later changes.
- HELOC rate mechanics: Check the index and margin, how often the rate can change, any limits on changes, and what happens when an introductory rate ends.
- Repayment terms: For a HELOC, identify the draw period, repayment period, minimum-payment calculation, and whether the plan can require a balloon or other large final payment.
- Payment consequences: Consider how payments could change if a variable rate rises or the HELOC enters repayment. For a fixed-rate loan, check the scheduled payment and total repayment terms.
- Qualification assumptions: Ask the lender how your credit, CLTV, property, requested amount, and term affect the offer. Do not assume a published starting rate applies to you.
The CFPB’s HELOC guidance describes rate and payment features to review. A home equity loan or HELOC uses your home as collateral; if you do not repay, you risk foreclosure. If considering a HELOC to consolidate other debt, compare alternatives and account for the added risk of securing that debt with your home. The CFPB discusses this risk in its consumer guidance.
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- Loan Amortization and Remaining Balances
- Instant Principal, Interest, Interest Only and Total Payments
- Future Values
- Date math function
What the rate trend does—and does not—say
In an October 7, 2026 update, Bankrate reported rates rising and quoted Fabien Thierry, head of home equity lending at Citizens Bank: “The home equity loan, because it’s a fixed product, provides that certainty at a time when rates are potentially on the way to rise even higher.” This is an industry executive’s view, not a forecast or a guarantee that rates will rise. Bankrate’s rate-trend coverage supplies that dated context.
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